Ferrari (RACE) Stock Drops 8% as First Fully Electric Car Disappoints Investors

TLDR

• Ferrari (RACE) stock fell as much as 7.8% in early Milan trading after the unveiling of the Luce, its first fully electric car.
• The Luce is priced at €550,000 ($640,000), seats five people, and delivers over 1,000 horsepower with a 0-100 kph time of 2.5 seconds.
• The design was developed with Jony Ive’s LoveFrom studio and drew comparisons to a Honda Accord EV and Tesla Model 3, disappointing some analysts.
• Ferrari cut its 2030 EV target in half last year to 20% of its lineup, signaling the company is not going all-in on electric.
• The Luce is Ferrari’s second four-door model ever and its first five-seater, powered by four individual electric motors — one per wheel.

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Ferrari unveiled its first fully electric car on Sunday in Rome, and Wall Street wasn’t impressed. RACE stock fell as much as 7.8% in early Milan trading after the reveal of the Luce, a five-seat grand tourer priced at €550,000 ($640,000).

Ferrari N.V., RACE

The car was presented at the Vela di Calatrava, a sail-shaped structure outside Rome. Ferrari flew in more than 200 journalists for the event and hosted gala dinners for 1,600 customers across two nights. Orders opened Monday.

Ferrari has just officially unveiled its first ever all-electric car, called the Ferrari Luce.

• Starting price: $640,000
• Interior co-designed with Apple’s former head of design, Jony Ive
• Range: 280 miles (expected EPA)
• Peak charging speed: 350kW
• 122 kWh battery
•… pic.twitter.com/QjgHeP1hJm

— Sawyer Merritt (@SawyerMerritt) May 25, 2026

The Luce produces the equivalent of just over 1,000 horsepower and hits 100 kph in 2.5 seconds — faster than Ferrari’s own V12-powered Purosangue SUV. Top speed exceeds 310 kph, and the car carries a 122 kWh battery with a range of over 530 kilometres.

It is Ferrari’s heaviest car ever at 2.26 tonnes. It is also only the second four-door model in Ferrari’s history and the brand’s first five-seater, made possible by a new electric platform that removes the traditional front-mid engine and rear gearbox layout.

The design was created with Jony Ive and Marc Newson at LoveFrom, the studio co-founded by the former Apple design chief. The result is smooth and pared-back — a departure from Ferrari’s typically muscular look.

Pierre-Olivier Essig, head of research at AIR Capital, wrote that the Luce looks like “a mix between a Honda Accord EV and Tesla 3,” adding that he was “lost in translation with Ferrari’s new strategy, trying to emulate Apple design.”

A New Direction That’s Dividing Opinions

Ferrari CEO Benedetto Vigna said the team started with Ferrari’s identity, not the technology. “We had to start from Ferrari, not from electric technology,” he said. “We had to start from the human dimension.”

The car uses four electric motors, one per wheel, and a battery pack designed and built in-house at Maranello. It also includes a 600-litre boot — enough for two golf bags or three large suitcases.

Rather than mimic combustion engine sounds, Ferrari spent five years and 40,000 kilometres of testing developing a natural acoustic profile. A sensor on the rear axle captures and amplifies the hum of the electric motors.

What Ferrari’s 2030 Strategy Looks Like Now

Ferrari has repeatedly scaled back its EV ambitions. Last year, it cut its 2030 target for fully electric models from 40% of the lineup to 20%, while doubling down on combustion and hybrid options.

RACE stock has fallen 27% over the past 12 months, weighed down by concerns over global luxury demand. The Luce launch does not appear to have steadied sentiment.

Executive Chairman John Elkann framed the Luce as a statement of intent: “Ferrari Luce is not a response to change. It is a deliberate decision to lead what comes next.”

Ferrari said the Luce’s pricing reflects its commitment to exclusivity over volume. With fewer than 14,000 cars produced per year, scarcity remains central to its strategy — even as the brand pushes into new territory.